Civic Intelligence

Parks Area Foundation

990 • Fiscal year 2020 • EIN 31-1742335

Jan 01, 2020 to Dec 31, 2020 • Filed on Sep 28, 2021

Organization ProfileWWW.PARKSAREAFOUNDATION.ORG
PO Box 3323Des Moines, IA 50316

(515) 707-6598

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

17th percentile

-18%

Higher net margin than 17% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

32nd percentile

-0.5%

Faster asset growth than 32% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets27th percentile

Assets

Down

$602,181

Down $3,135 (-0.5%) from 2019

Net Assets

Down

$602,181

Down $3,135 (-0.5%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin17th percentile

Revenue

Up

$49,591

Up $92,801 (+215%) from 2019

Expenses

Down

$58,724

Down $305,087 (-84%) from 2019

Net Income

Up

-$9,133

Up $397,888 (+98%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth32nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2016: $766,473Liabilities 2016: $410,434Net Assets 2016: $356,0392016Assets 2017: $1,374,308Liabilities 2017: $403,254Net Assets 2017: $971,0542017Assets 2018: $1,398,395Liabilities 2018: $390,863Net Assets 2018: $1,007,5322018Assets 2019: $605,316Liabilities 2019: $0Net Assets 2019: $605,3162019Assets 2020: $602,181Liabilities 2020: $0Net Assets 2020: $602,1812020Assets 2021: $533,459Liabilities 2021: $1,788Net Assets 2021: $531,6712021Assets 2022: $645,118Liabilities 2022: $1,788Net Assets 2022: $643,3302022Assets 2023: $566,507Liabilities 2023: $1,788Net Assets 2023: $564,7192023Assets 2024: $540,168Liabilities 2024: $4,388Net Assets 2024: $535,7802024

Highlighted filing

2020

Assets$602,181
Liabilities$0
Net Assets$602,181
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2016: $296,110Expenses 2016: $285,009Net Income 2016: $11,1012016Revenue 2017: $793,087Expenses 2017: $178,072Net Income 2017: $615,0152017Revenue 2018: $159,220Expenses 2018: $129,542Net Income 2018: $29,6782018Revenue 2019: -$43,210Expenses 2019: $363,811Net Income 2019: -$407,0212019Revenue 2020: $49,591Expenses 2020: $58,724Net Income 2020: -$9,1332020Revenue 2021: $7,460Expenses 2021: $81,118Net Income 2021: -$73,6582021Revenue 2022: $146,173Expenses 2022: $21,904Net Income 2022: $124,2692022Revenue 2023: -$60,413Expenses 2023: $18,198Net Income 2023: -$78,6112023Revenue 2024: -$7,103Expenses 2024: $21,836Net Income 2024: -$28,9392024

Highlighted filing

2020

Revenue$49,591
Expenses$58,724
Net Income-$9,133
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Sep 28, 2021
Return Version
2020v4.1
Gross Receipts
$53,420
Mission and Program Overview

Mission

Economic development in highland park, oak park, and union park area and promotion of historic redevelopment and educating public to benefits of community area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$365,507$361,077▼ $4,430
Savings and Temporary Cash Investments$76,778$152,670▲ $75,892
Cash and Non-Interest-Bearing Accounts$163,031$88,434▼ $74,597
Total Assets$605,316$602,181▼ $3,135
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$605,316$602,181▼ $3,135
Total Net Assets Fund Balance$605,316$602,181▼ $3,135
Total Liabilities and Net Assets / Fund Balance$605,316$602,181▼ $3,135

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$350,000--
Equipment$11,077$14,253-
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
Drew KelsoPresident
Ken BoatwrightVice President
Andy AndersonBoard Member
Ashley KennebeckBoard Member
Carol BamfordBoard Member
Emily JonesBoard Member
John FellmeyerBoard Member
Jordan RichardsonBoard Member
Katie LundBoard Member
Patty WilliamsBoard Member
Sarah HunterBoard Member
Tanner FaaborgBoard Member
Pam ThompsonSecretary
Bill ThompsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$52,278
Program Service Revenue
$0
Investment Income
$1,142
Other Revenue
$-3,829
All Other Contributions
$32,600
Change in Net Assets
$-9,133
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$58,724
Total Fundraising Expense$7,259
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other-$40,840$2,829$43,669
Insurance-$5,003-$5,003
Depreciation Depletion--$4,430$4,430
Office Expenses-$3,472-$3,472
Other Expenses-$1,850-$1,850
Advertising-$300-$300
Total Functional Expenses$0$51,465$7,259$58,724
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$3,829
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Ror$19,678$19,678$3,829$15,849
Total Events$19,678$19,678$3,829$15,849
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

“(two) husband/wife serve on board. (one) father/daughter serve on board. (one) mother/son serve on board.”

Form 990 governing body review Part VI line 11

“Draft of return is provided to board prior to filing and reviewed by the executive board.”

Conflict of interest policy compliance Part VI line 12C

“Annually all board and committee members of paf are required to identify any affiliation with any other agency in which there may be a conflict of interest. The form is updated and reviewed annually.”

Governing documents etc available to public Part VI line 19

“All documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Parks Area Foundation
EIN
31-1742335
Address
PO BOX 3323, DES MOINES, IA 50316

Signing Officer

Name
Drew Kelso
Title
President
Phone
5157076598
Signed
2021-09-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ken Boatwright
Formed
1998
Legal Domicile
Ia
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
5

Preparer

Firm
Flagg & Company Cpas
Address
3737 WOODLAND AVENUE STE 410, WEST DES MOINES, IA 50266
Preparer
Michelle L Kilgore CPA
Phone
5152438647
Supplemental Narrative

Additional Explanations

Unrelated business income explanation Part V line 3B

“Historic redevelopment and educating the public to benefits of community area is the primary purpose. Unrelated business income has yet to be a material amount.”

Cessation of or significant change to any program service Part III line 3

“The organization sold a property previously used for low income housing. While no significant changes have been made to the purpose and mission of the organization, there is no long rental revenues and related expenses.”

Explanation of other changes in net assets or fund balances Part XI line 9

“This change in net assets is due to the difference between the book loss (resulting from the sale of building) and the federal loss calculated on the 2019 return.”

List of other fees for services expenses Part IX line 11G

“Fees paid on service expenses encompass event management companies and other related services performed to complete organization events, advertising, and coordinate receipts and payments.”

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IRS990/PYProgramServiceRevenueAmt017030
IRS990/PYRevenuesLessExpensesAmt0-407021
IRS990/PYTotalExpensesAmt0363811
IRS990/PYTotalRevenueAmt0-43210
IRS990/ReconcilationRevenueExpnssAmt0-9133
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt076778
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0152670
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt033646
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt025550
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt061464
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0646405
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0161925
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0928990
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt095
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0181
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt031
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt07631
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt096
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt08034
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt019678
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt039656
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt047794
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt077163
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0184291
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt095
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0181
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt031
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt07631
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt096
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt08034
IRS990ScheduleA/InvestmentIncomeCYPct00.01000
IRS990ScheduleA/InvestmentIncomePYPct00.01000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99280
IRS990ScheduleA/PublicSupportPY509Pct00.99280
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt065206
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0109258
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0723568
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0161925
IRS990ScheduleA/Total509Grp/TotalAmt01113281
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt053419
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt065387
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0109289
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0731199
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0162021
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01121315
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt011077
IRS990ScheduleD/EquipmentGrp/DepreciationAmt014253
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt025330
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0350000
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0350000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0361077
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt03829
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0ROR
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt019678
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt019678
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt019678
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt019678
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt015849
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt03829
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt03829
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0HISTORIC REDEVELOPMENT AND EDUCATING THE PUBLIC TO BENEFITS OF COMMUNITY AREA IS THE PRIMARY PURPOSE. UNRELATED BUSINESS INCOME HAS YET TO BE A MATERIAL AMOUNT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1(TWO) HUSBAND/WIFE SERVE ON BOARD. (ONE) FATHER/DAUGHTER SERVE ON BOARD. (ONE) MOTHER/SON SERVE ON BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DRAFT OF RETURN IS PROVIDED TO BOARD PRIOR TO FILING AND REVIEWED BY THE EXECUTIVE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUALLY ALL BOARD AND COMMITTEE MEMBERS OF PAF ARE REQUIRED TO IDENTIFY ANY AFFILIATION WITH ANY OTHER AGENCY IN WHICH THERE MAY BE A CONFLICT OF INTEREST. THE FORM IS UPDATED AND REVIEWED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION SOLD A PROPERTY PREVIOUSLY USED FOR LOW INCOME HOUSING. WHILE NO SIGNIFICANT CHANGES HAVE BEEN MADE TO THE PURPOSE AND MISSION OF THE ORGANIZATION, THERE IS NO LONG RENTAL REVENUES AND RELATED EXPENSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THIS CHANGE IN NET ASSETS IS DUE TO THE DIFFERENCE BETWEEN THE BOOK LOSS (RESULTING FROM THE SALE OF BUILDING) AND THE FEDERAL LOSS CALCULATED ON THE 2019 RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7FEES PAID ON SERVICE EXPENSES ENCOMPASS EVENT MANAGEMENT COMPANIES AND OTHER RELATED SERVICES PERFORMED TO COMPLETE ORGANIZATION EVENTS, ADVERTISING, AND COORDINATE RECEIPTS AND PAYMENTS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Unrelated business income explanation Part V line 3b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Cessation of or significant change to any program service Part III line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7List of other fees for services expenses Part IX line 11g
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0605316
IRS990/TotalAssetsEOYAmt0602181
IRS990/TotalAssetsGrp/BOYAmt0605316
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt052278
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt07259
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt051465
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt058724
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0605316
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0602181
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0-3829
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01142
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt049591
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0605316
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IRS990/VotingMembersGoverningBodyCnt014
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IRS990/WebsiteAddressTxt0WWW.PARKSAREAFOUNDATION.ORG

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$602,181
Liabilities
$0
Net assets
$602,181
Revenue
$49,591
Expenses
$58,724
Net income
-$9,133
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.54$0.00$0.54$0.01$0.02$0.03
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.57$0.00$0.56$0.06$0.02$0.08
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.65$0.00$0.64$0.15$0.02$0.12
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.53$0.00$0.53$0.01$0.08$0.07
2020Detailed filing. Detailed filing data is available for this year.$0.60$0.00$0.60$0.05$0.06$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.61$0.00$0.61$0.04$0.36$0.41
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.40$0.39$1.01$0.16$0.13$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.37$0.40$0.97$0.79$0.18$0.62
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.77$0.41$0.36$0.30$0.29$0.01